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i'm not sure that's michael going to it's quite i mean a lot of russians are not happy about him ok michel. they're not happy but i don't it's because of deposits mean the central bank says up to seventy billion in deposits in cypriot banks seven billion is held by russian nationals that maybe not underestimate but certainly nothing more than double that out of seventy billion now it's quite true that russian entities have loaned money to the. cypriot banks but it's a different matter overwhelmingly the people who are getting burned by this tax on depositors are cypriots. and the notion that russian oligarchs and so on are being burned by this is really put about in germany in order to justify the very harsh treatment of cypriot savers chair don't do you think about that because i mean we always go ahead but i you know i think that there's a there's more money involved here there's there's close to about thirty billion of russian money they're estimating twenty billion losses for russian deposits themselves and remember that it's a range of tax that they are implying anybody with over one
i'm not sure that's michael going to it's quite i mean a lot of russians are not happy about him ok michel. they're not happy but i don't it's because of deposits mean the central bank says up to seventy billion in deposits in cypriot banks seven billion is held by russian nationals that maybe not underestimate but certainly nothing more than double that out of seventy billion now it's quite true that russian entities have loaned money to the. cypriot banks but it's a different matter...
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michelle caruso-cabrera is on the ground right now. she joins us live with the very latest from cyprus. over to you, michelle. >> reporter: hey, there, maria. the very latest that the cyprus plan tried in part trying to raid a pension fund. cash in the pension fund used now and promising to pay the workers later. but their european partners said, no, that's not going to work, because all you're going to do is defer liabilities. it doesn't help your debt profile. so we don't like that. now they're working on plan "c." the question is, what is that? here's the very latest, the bank holiday, as a result of all of this indecision and inaction has been extended and now it looks like the banks will not open until tuesday of next week, a full week without the banking system operating. the minister of finance is in russia, trying to square away a deal there. we haven't had any good results from there. and then very, very worrisome, a member of the ecb talking even tougher late today, suggesting that if they don't come up with a deal here in cy
michelle caruso-cabrera is on the ground right now. she joins us live with the very latest from cyprus. over to you, michelle. >> reporter: hey, there, maria. the very latest that the cyprus plan tried in part trying to raid a pension fund. cash in the pension fund used now and promising to pay the workers later. but their european partners said, no, that's not going to work, because all you're going to do is defer liabilities. it doesn't help your debt profile. so we don't like that. now...
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michelle? >> reporter: hi there, tyler. the latest is the president says he's going to meet with parliament tomorrow morning. there's still no plan here. in fact, you heard about plan a which was to tax deposits. now we have heard that plan b has been rejected by the troika as well. cyprus government said to the troika, their european partners who they want them to lend money to, they said to them, listen, instead of taxing deposits why don't we do this instead. we have a pension fund, we'll raid it, take the cash, turn it into bond and we'll pay it back over time. the troika said that doesn't do anything for you. you still have liabilities. then they said we're also going it try to sell one of the bad banks. and the fact of the matter is if the bad bank were sellable, people like chris flowers and wilbur ross and tim collins would have been here a long time trying to buy it. they said maybe we'll split it up, divide it into the good bank and bad bank. we'll sell the good bank to the russians and the troika said selling the
michelle? >> reporter: hi there, tyler. the latest is the president says he's going to meet with parliament tomorrow morning. there's still no plan here. in fact, you heard about plan a which was to tax deposits. now we have heard that plan b has been rejected by the troika as well. cyprus government said to the troika, their european partners who they want them to lend money to, they said to them, listen, instead of taxing deposits why don't we do this instead. we have a pension fund,...
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michelle caruso-cabrera is standing by. michelle? >> hey, there, scott. cyprus has to move on to plan "c" because plan "b" has been rejected by troika. cyprus went to the troika and said instead of depositing the deposits in the bank what if we we raided a pension fund? like 4 billion euros and they don't like that because if you raid it now, you get cash. you've got to pay the workers down the road. so you still have liabilities. you have increased them. doesn't do anything for your debt sustainabilities. what if we sell the good banks to the russians, and the troika said it's the bad bank that's the problem. who who's going to absorb the losses so we're back to square one. ultimately now if the european union doesn't blink and if the russians don't come through with another plan, cyprus faces a choice. they either wind down the two big banks and a lot of people are taking a lot of losses though the insured depositors can be protected or they leave the euro. we'll have to hear a decision within the next couple of days. in the meantime, we have three grap
michelle caruso-cabrera is standing by. michelle? >> hey, there, scott. cyprus has to move on to plan "c" because plan "b" has been rejected by troika. cyprus went to the troika and said instead of depositing the deposits in the bank what if we we raided a pension fund? like 4 billion euros and they don't like that because if you raid it now, you get cash. you've got to pay the workers down the road. so you still have liabilities. you have increased them. doesn't do...
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back to you guys. >> thanks, michelle. the banking crisis in cyprus keeping global investors on edge. joined by the u.s. equities strategist at jpmorgan. and from charlotte, john lynch, regional chief investment officer at wells fargo. welcome in. and tom, i think back on how many times you've been on and how many times you've probab probably -- we've asked you -- i can put in different scenarios. this time it's cyprus. but how many times have we asked you about, what about this? are you still bullish? are you still bullish? >> yeah, you know, i think long-term i think everything in place for bull market still remains intact. it's driven by a housing recove recovery. but in the short-term, i think we do have to be somewhat careful about this. i just don't want to be underestimating, you know, the situation in cypress. >> do you -- strategists at major firms, they come and go. are you finally at jpmorgan, do they finally think you're pretty cool now? you stayed long for the last five years. >> that's right. >> thick and thi
back to you guys. >> thanks, michelle. the banking crisis in cyprus keeping global investors on edge. joined by the u.s. equities strategist at jpmorgan. and from charlotte, john lynch, regional chief investment officer at wells fargo. welcome in. and tom, i think back on how many times you've been on and how many times you've probab probably -- we've asked you -- i can put in different scenarios. this time it's cyprus. but how many times have we asked you about, what about this? are you...
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michelle caruso-cabrera. what is this controversy all about? >> reporter: well, this country about six months ago went to the other countries in europe and said we need a lot of help. we need 17 billion euros because we have a bank that's on the verge of collapse and we need -- we've gotten less tax revenue because of the recession. and so, remember, the europeans have already bailed out greece, portugal, ireland. so when cyprus went to them, we'll lend you $10 billion. you guys have to come up with $7 billion. and the way the cyprus economy is structured, it's almost all banks. huge banks relative to the size of the economy. and so the solution they came up with was taxing deposits in banks. that has turned out to be incredibly controversial. last night the parliament here voted it down even though there had been intense negotiations for weeks about it. now today, it's about plan "b" and it's not clear whether there will be a plan "b." the banks are closed, only get money out of atms, the financial system here on the verge of collapse. and if
michelle caruso-cabrera. what is this controversy all about? >> reporter: well, this country about six months ago went to the other countries in europe and said we need a lot of help. we need 17 billion euros because we have a bank that's on the verge of collapse and we need -- we've gotten less tax revenue because of the recession. and so, remember, the europeans have already bailed out greece, portugal, ireland. so when cyprus went to them, we'll lend you $10 billion. you guys have to...
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joining us from cyprus is our chief international correspondent michelle caruso-cabrera. michelle? >> hi there, scott. >> as a result of rejecting that plan last night in parliament and now it's plan b and it's emergency meeting after emergency meeting to try to fig you out a way for this government to come down in euros in either savings or revenues in order to get a $10 billion euro loan to bail out their banks. they've got to come up with that number or else we'll come up with a meltdown. in the wakes of the vote yesterday told the cypriots. don't think you're negotiating this deal. don't come back to us. it was a toughly-worded statement. russia, by the way, is not buying one of the troubled banks. there had been a report that that was going to happen that briefly spiked the euro. and one of the government spokespersons immediately said it was false and we saw that rally disappear. there's a cabinet meeting two hours from now and at some point they've got to announce, what are they going to do about the banks tomorrow? are they going re-open or not? it seems implausible at this
joining us from cyprus is our chief international correspondent michelle caruso-cabrera. michelle? >> hi there, scott. >> as a result of rejecting that plan last night in parliament and now it's plan b and it's emergency meeting after emergency meeting to try to fig you out a way for this government to come down in euros in either savings or revenues in order to get a $10 billion euro loan to bail out their banks. they've got to come up with that number or else we'll come up with a...
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michele bachmann trying to duck questions by running away from our dana bash. and -- >> my roommate just pulled a fire alarm and he's got a gun out. >> hear from the students who may have prevented a massacre at a florida college campus. this is the "cnn newsroom." i'm fredricka whitfield in for suzanne malveaux. >>> we begin with two major developments out of colorado where the governor has just signed into law a series of gun control measures. they are some of the most restrictive in the country. one limits magazine capacity. the other to deal with background checks and how to pay for them. this comes just hours after the state's prison chief was gunned down. authorities say tom clements was shot in his home last night. police are talking to neighbors and searching the woods near his property. at a news conference a short while ago colorado's governor was clearly very emotional. >> to me, to i think all of us, in many ways he helped define what a public servant is. he did his job quietly, intently, he cared deeply about his staff, his family and the community
michele bachmann trying to duck questions by running away from our dana bash. and -- >> my roommate just pulled a fire alarm and he's got a gun out. >> hear from the students who may have prevented a massacre at a florida college campus. this is the "cnn newsroom." i'm fredricka whitfield in for suzanne malveaux. >>> we begin with two major developments out of colorado where the governor has just signed into law a series of gun control measures. they are some of...
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. >> reporter: michele is a therapist who specializes in mothers and she says medication can be a good thing but only under a doctor's supervision. >> i think mothers should be thinking of it as i'm going through a hard time and i'm going to use medication to get me through this but it shouldn't be a forever kind of idea. >> reporter: ann mcwilliams calls her time on xanax a temporary fix. the mississippi mom and author of mommy needs a xanax went on the medication when full time parenting felt like just too much. >> it did get me over a speed bump. it helped to remove me from the high pressure feeling. >> reporter: aware of the addictive nature of xanax ann recently weaned herself off the drug but she like anne marie and melissa says no one should judge moms who turn to med indication. >> how can you be a good mom if you don't take care of yourself? >> it helps me a lot to have this medication tool in my toolbox. >> we want to know that all the women profiled in the piece were under a doctor's care when they were professionally prescribed their medications and for more on this now we
. >> reporter: michele is a therapist who specializes in mothers and she says medication can be a good thing but only under a doctor's supervision. >> i think mothers should be thinking of it as i'm going through a hard time and i'm going to use medication to get me through this but it shouldn't be a forever kind of idea. >> reporter: ann mcwilliams calls her time on xanax a temporary fix. the mississippi mom and author of mommy needs a xanax went on the medication when full...
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. >> alisyn: tomorrow we have michelle malkin, brook burke from "dancing with the stars." >> brian: don't miss it. there will be a quiz. bill: big head lien here, everybody. fox news alert. the white house chief of staff calling it a real game-changer if sub stand at this aided. denis mcdonough talking about reports out of syria chemical weapons were used in that war as president obama arrives it -- in israel and a country that shares a border. i'm bill hemmer. welcome to america's newsroom. martha: i'm martha maccallum. this is very serious story. president obama may soon have to act. mike rogers chairs the intel committee in the house. his counterpart in the senate, dianne feinstein, both say based on briefings they received very high probability that syria's regime used weapons of mass destruction. that has been called a red line issue by president obama who warned syria's dictator bashar al-assad that he should not cross that line. bill: the white house has been briefed and the white house has to make some decisions in this. i think the days are becoming more desperate and the regime
. >> alisyn: tomorrow we have michelle malkin, brook burke from "dancing with the stars." >> brian: don't miss it. there will be a quiz. bill: big head lien here, everybody. fox news alert. the white house chief of staff calling it a real game-changer if sub stand at this aided. denis mcdonough talking about reports out of syria chemical weapons were used in that war as president obama arrives it -- in israel and a country that shares a border. i'm bill hemmer. welcome to...